UPDATE: Global Hunter Securities Downgrades Nabors (NBR) to Neutral, Slower Activity
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Price: $76.24 -4.85%
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
11 Buy, 17 Hold, 10 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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(Updated - September 25, 2012 8:43 AM EDT)
Global Hunter Securities downgraded Nabors (NYSE: NBR) from Accumulate to Neutral with a price target of $16.00 (from $17.00).
The firm comments, "Activity across most business lines is tracking below our prior forecast and is unlikely to meet such expectations in the out quarters given the current fundamental headwinds impacting its product lines and geomarkets. Additionally, we do not foresee much in terms of M&A or external factors to move the stock higher by year end. Lacking identifiable catalysts and with consensus estimates likely too high (~18% vs. our 2013 EPS estimate), much like its peer group, we are headed for the sidelines."
For an analyst ratings summary and ratings history on Nabors click here. For more ratings news on Nabors click here.
Shares of Nabors closed at $15.08 yesterday.
Global Hunter Securities downgraded Nabors (NYSE: NBR) from Accumulate to Neutral with a price target of $16.00 (from $17.00).
The firm comments, "Activity across most business lines is tracking below our prior forecast and is unlikely to meet such expectations in the out quarters given the current fundamental headwinds impacting its product lines and geomarkets. Additionally, we do not foresee much in terms of M&A or external factors to move the stock higher by year end. Lacking identifiable catalysts and with consensus estimates likely too high (~18% vs. our 2013 EPS estimate), much like its peer group, we are headed for the sidelines."
For an analyst ratings summary and ratings history on Nabors click here. For more ratings news on Nabors click here.
Shares of Nabors closed at $15.08 yesterday.
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